Buying a home as a first-time home buyer or a seasoned purchaser is exciting and brings a lot of changes to your life and lifestyle. AWealth will help you through the processes such as applying for a new mortgage for your home. We will asses your finances to see how much you can afford and if a Home Buyer’s Play through an RRSP is right for you. AWealth will find also find the right insurance solution for your home and mortgage.

QUESTIONS TO CONSIDER:

Do I qualify for the first time home buyer program?

In order to qualify for the Home Buyers Plan, the RRSP funds you are using must be on deposit for at least 90 days and provide a signed agreement to buy or build a qualifying home.

With the federal government’s Home Buyers’ Plan, you can use up to $25,000 from your RRSPs to use as a down payment on a home. In order to qualify for the Home Buyers’ Plan, the RRSP funds you are using must be on deposit for at least 90 days and provide a signed agreement to buy or build a qualifying home.

The withdrawal is not taxable as long as you repay it within a 15-year period. The payback amount is at least one-fifteenth a year of the amount you withdrew.